HB3331

Oklahoma HB3331 mandates a one-year waiting period before issuing new school bonds, exempts destroyed facilities, and clarifies nondebt capital.

Oklahoma HB3331 introduces a one-year waiting period before calling an election to issue new school bonds, ensuring a gap after retiring existing debt. This waiting period does not apply if school facilities have been destroyed by an act of God. The bill also clarifies that the waiting period does not apply to nondebt capital options. The act codifies these provisions and is set to become effective November 1, 2026.